Australia’s competition regulator on Wednesday approved Kimberly-Clark’s proposed $40 billion takeover of Kenvue, ​on condition the company divests Kenvue’s Carefree ‌and Stayfree period care brands in the country to address competition concerns. The ​Australian Competition and Consumer Commission (ACCC) said ​the period care brands should be divested ⁠to an approved purchaser. The regulator said ​without the divestment, the deal could lessen competition ​in period care products supply, with both companies being two of the three major suppliers of ​period care products in Australia. The deal, announced ​in November, would allow Kimberly-Clark to bring in Kenvue’s ‌famous ⁠global brands such as Listerine mouthwash and Neutrogena, but would expose the company to lawsuits Kenvue faces over Tylenol. …”The divestiture will preserve an ​independent ⁠competitor in the supply of period care products in Australia,” ACCC Commissioner Philip Williams said.